Strategic Link Partners with Sein Analytics to Introduce a Secondary Loan Platform for Credit Unions
April 16, 2019
For credit unions that carry high loan–to–asset ratios, participating in the secondary loan market can help balance assets. However, outdated loan management processes can prohibit credit unions from fully reaping the benefits of participation. Strategic Link’s new partnership with Sein Analytics is set to change this for Northwest credit unions.
Sein Analytics has developed a digital platform that simplifies the process so that credit unions will feel more comfortable engaging in secondary market trades.
“Sein Analytics’ application helps credit unions manage the secondary loan process,” said Northwest Credit Union Association Vice President of Strategic Resources, Jason Smith. “Credit unions will have loan data, historical pricing, a central operations portal, and real-time pricing – all at their fingertips.”
While exhibiting at the Credit Union National Association’s Governmental Affairs Conference in February, Sein Analytics had several conversations with credit union executives. Many expressed hesitation about participating in the secondary loan market for several reasons. They expressed concern about revealing to the broader market what they’re putting out for sale, desired a level of anonymity that is currently not available, and cited the process as slow and cumbersome.
The Sein Analytics platform makes transacting with a community of credit unions easier. Market participants can easily view and compare loan statistics, then use the analytics module to make better pricing decisions. It also enables users to see status updates from your team as they finish their work.
By automating the entire process, credit unions can close more deals faster with less resources. Credit unions can easily access residential mortgage, auto, and credit card deals, which make up 84 percent of loan portfolios in the credit union industry.
To learn how your credit union can increase profitability in the secondary loan market, register for an informational webinar on April 22, 10 a.m. to 11 a.m. PDT, 11 a.m. to noon MDT. The webinar will feature:
- Strategies credit unions can implement to increasenetinterest margins
- Benefits of trading with trusted peers and partners
- Digitizing documents
- Discussion onhow automating monthly remittance reports can increase efficiency ratios
- Learninghow analytics can help executives make smarter pricing decisions
To learn more about Sein Analytics, please contact Strategic Partnerships Manager, Corina Ruiz. To learn more about Sein Analytics, visit its webpage.